I agree with your diagnosis of the reason behind the suspension - the need to settle whether the P1 shares count as revenue for GCN, when they never passed through GCN's hands on their way to the shareholders.
I am surprised that there is no immediately applicable case law for these circumstances.
By analogy (and of course it may not apply to businesses) what would happen if Person A did some work for Person B, who was intending to reward Person A with goods in kind.
Person A tells Person B not to hand over the goods in kind, but to give them instead to Persons Y and Z.
Would Person A have to pay tax on the value of these goods, even though they didn't pass through Person A's hands?
NB. I am not seeking taxation advice, merely looking for an analogy for the bind GCN finds itself in.
GCN Price at posting:
1.6¢ Sentiment: None Disclosure: Held